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Winners and losers from Albanese’s first Australian budget

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Labor has delivered its first Australian federal budget since 2013, with Treasurer Jim Chalmers addressing the nation.

As Australians face increasing cost of living pressures, the government is hoping to fulfill some election promises and set the tone for how it will govern.

Winners and losers

Families – Winner. There’s $4.7 billion worth of spending in the budget over the next four years.

Wages – Loser. Rising inflation means real wages are expected to continue to go backwards for another year at least. Unemployment is forecast to increase and the electricity and gas forecasts are so concerning that Treasurer Jim Chalmers is even threatening market intervention.

The environment – Winner. More money has been set aside for conservation.

Law breakers – Loser. Fines are set to increase, for example for tax evasion.

This financial year’s deficit forecast has halved and net debt is tipped to be about $100 million lower than originally forecast for 2026.

But Australia is facing a future where an ageing population is going to hit the government in two ways — fewer people paying income tax and greater welfare payments.

Female participation

Labor’s focus is firmly on improving female workforce participation with its election policy to increase childcare subsidies for families earning less than $530,000 a year.

“Cheaper child care is a game-changing investment in families, our workforce, and our economy,” he argued early in his budget speech.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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Money

Federal Reserve lowers rates amid eased job market

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The Federal Reserve has cut interest rates by a quarter-point, bringing the benchmark rate to a range of 4.5% to 4.75%, as economic growth continues but job gains slow.

The Fed noted that labour market conditions have “generally eased,” even with low unemployment, signalling a more cautious approach amid a stable economic expansion.

The statement marks a shift in Fed language, now saying inflation has “made progress” toward the 2% goal instead of the prior “further progress.”

With inflation holding steady around 2.6%, policymakers aim to keep economic risks balanced, despite pressures from slower job growth.

This rate cut reflects a strategic move to sustain economic momentum while cautiously watching inflation’s gradual trend toward the Fed’s target.

The decision was unanimous, aligning Fed priorities with a balanced approach to support both employment and price stability.

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Money

Trump victory sparks market surge as Wall Street soars

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Donald Trump’s election victory has sparked a massive rally in the stock market.

Banks and industrial companies led the surge as investors bet that Trump’s plans for deregulation and tax cuts will boost economic growth.

Shares of big banks, like JPMorgan and Goldman Sachs, soared as investors predicted fewer regulatory restrictions.

Meanwhile, industrial giants such as Caterpillar and steelmakers like Nucor also hit record highs, reflecting optimism about U.S. manufacturing.

In contrast, clean-energy stocks took a hit, as Trump’s policies are expected to favour traditional energy sectors.

This surge comes amid rising Treasury yields and falling gold prices as investors gain confidence in the transition to a Trump administration.

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Australian Treasurer and RBA chief clash over economy

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A rare dispute has emerged between Australia’s Treasurer Jim Chalmers and Reserve Bank Governor Michele Bullock over the nation’s economic trajectory.

Governor Bullock argues the economy remains overheated, even as growth data shows recent slowdowns.

Treasurer Chalmers, however, warns that sustained high interest rates are “smashing the economy.”

This debate is critical for Australians, as it will influence the future of interest rates and inflation.

Data shows a mixed economic picture: while inflation is down, it’s still above target, and the jobs market remains historically strong.

Ultimately, deciding who’s right may come down to theory and perspective on economic health.

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